Politics

[Datchew]

Thanks to Jimmy Carter, interest rate on my first house mortgage was 17.5% back in 1981!!

While that was super high, imo, the cost of capital should be a real thing in a healthy economy.

We got hooked on the super low interest rates for too long.

 

[Tanks]

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All dependent, where you went to school, class rank, Order of the Coif, Law Review, Phi Delta Phi, Clerkship, etc.

Actually, it only depends on one's graduating year including raises. Firms set the starting salary for a graduating class not individuals. Now, getting offers depends on the other factors.

Also, most law students get 8 to 12 week summer associate jobs (at same salary as a first-year associate) between law school years, most if not all turn to job offers later on.

And yes, someone graduating from a lawyer factory that is barely accredited is going to be your public defender or local DA not an associate at a white-shoe firm.

 

[Tanks]

Frankly, we have too many lawyers and not enough Physicians. And it shows up in earnings. But that’s another story, with different economic factors.

I have several friends that are physicians, they will not recommend becoming a physician to their kids. Heck, originally my daughter was divided between becoming a doctor or a lawyer. We looked at pros and cons and earnings potential and she chose becoming a lawyer. She used to tutor kids in Calculus at 11th grade, so could have become a doctor as well.

BTW, average workweek in her specialty is about 70 hours a week. So, while they make plenty of money starting out, they also work for it.